Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h −0.064%

Price spread now: Bybit against Paragon−0.020%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1881.876% of the position

Long on Paragon Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.020%, 7d avg −0.105%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.085% dearer against Paragon than usual: you sell high and buy low (spread −0.020% now, against its 7-day average of −0.105%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:CRWD	249.50	0.0079	pay 0.0010% / 1h	26m 06s	$84K	$108K	10x
Short	Bybit CRWDUSDT	249.45	0	get 0.0000% / 8h	7h 26m	$1.2M	$665K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paragon. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ParagonbpFee BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$16.5
Price spread: −0.020% → −0.105%: $8.53
Slippage, 4 orders: −$166.59
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$195.56
Costs to cover: 1.876%
Break-even: never at this rate

Slippage from Paragon: live order book, 29 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Paragon live order book, 29 min ago	5.01 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.22 bp	81.1 bp −$81	202.7 bp −$2,027	doesn't fit	doesn't fit

CRWD on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CRWDUSDT	0.0000%	8h	249.41	−0.034%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.60	+0.040%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDTshort	0.0000%	8h	249.45	−0.020%	$1.2M	$665K	25x
OKX CRWD-USDT-SWAP	0.0000%	8h	249.25	−0.100%	$615K	$626K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.42	−0.032%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.56	+0.026%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	249.70	+0.080%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.61	+0.044%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	249.60	+0.040%	$1.5M	$194K	10x	as long as short
BloFin CRWD-USDT	+0.0027%	8h	249.50	0.000%	$73K	$24K	25x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRWD-USD	+0.0030%	1h	249.36	−0.056%	$1.2M	$2.9M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	249.31	−0.074%	$99K	—	10x	as long as short
Paragon para:CRWDlong	+0.0079%	1h	249.50	long leg	$84K	$108K	10x
KuCoin CRWDUSDTM	+0.0100%	8h	249.56	+0.024%	$35K	$470K	20x	as long as short
tradeXYZ xyz:CRWD	+0.0108%	1h	249.42	−0.032%	$868K	$633K	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0211%	8h	249.34	−0.063%	$975	$108K	10x	as long as short
Injective CRWD/USDC PERP	+0.0220%	1h	238.48	−4.417%	$21K	$19K	12x	as long as short
Phoenix CRWD	+0.0321%	1h	249.44	−0.024%	$6	$140K	10x	as long as short